25277/H. Kong
27 AUG D.
89
Draft.
The Sec. to
The Treas.
Mr. Collins
Сори
to to L. C. the Trem.
Copy Gov Conf 20 Sept. Treas: 27835
Awad, 27884-
Sir,
2.8
Aug. B
I am directed by Mr. Sec. H. to ack. the
receipt of your letters No. 1068 and No.
15880 of the 10th inst. with regard to the
issue of one dollar notes in H.Kong.
W
Mr. H. will not consult the Gov. of H.
Kong before making further observations on
Govt.
his proposal to issue notes of low denomi-
nation in exchange for subsidiary coin. Hut in
the mean time, as it is clear that the re
is a demand for an increase in the number of
1 dollar notes in the Colony, he recommends
that the H.X. and S. Banking Corporation should
be permitted to increase their issue of dollar
notes from 226,000 to 350,000, on the condi-
tions now obataining with regard to these notes,
including the obligation of unconditional
withdrawal from circulation should the Govt.
of the Colony decide to issue small notes of
lower denomination than 6 dollars.
The Govt. would of course treat the Bank
with consideration should it be decided ult
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